Would Street Performer Protocol be appropriate in this case?
In short, a (potential) writer would propose: I'll write this book for a minimum of $X. Interested readers would put into an escrow system whatever that book is worth it to them. If the total escrowed contributions reach $X (presumably by some deadline), the author will write the book and release it for all to read, collecting the escrowed funds. If the kitty doesn't reach $X, or the author doesn't make good, the escrowed funds are returned.
Obviously this generalizes to other media as well.
The only think I don't see this covering well is the speculation on as-yet-unproven writers. Who is going to take a chance on you so you can make your reputation? Maybe that doesn't matter; I think that today, writers, musicians, etc., typically produce their first works on their own to get a publisher interested.
"[...] it was the revolutionary concept of asking their fans to pre-order and pay for the recording costs an album some 12 months in advance of its release that hit the headlines in 2001. Astonishingly, over 12,000 of their fans pre-ordered and an additional deal was struck with EMI to market the resulting ‘Anoraknophobia’ album."
Not sure if escrow was involved though.
Serialized works used to be one of the ways periodicals attracted readers (and advertisers).
Also, I'd want the writer to produce a complete book. I imagine that sometimes developments in later chapters will force some revision to the earlier ones, as plot lines are fleshed out. Releasing a chapter at a time won't allow that.
With the internet, couldn't we all be micro-patrons?
Imaging you're a reader with US$ 1000 per year to spend on books: how do spend it if there's a large supply of book offers like these?